Assessing My Current Status

I have started to track my budget and its surprising how much money I have just laying around not doing anything. I do not have any issue listing amounts since everyone who does government work knows what everyone makes based on grade and time in service, with some leeway for special skills.

Income after deductions (Medicare, Social Security, Life Insurance and charity) per month = $ 5,468.96

Now what do I currently spend my money on? So I broke it down by what I pay per month. My car, 2004 Honda Civic Hybrid that is sitting in storage, with the rest of my stuff covered by renter’s insurance and discount car insurance. Homeowner’s insurance for a house in my name, I cannot off hand recall what the property taxes were this year but since its in a rural area it was very low. I am currently paying for a satellite wireless Internet connection in a third world country thus the high Internet charge.

Car insurance $17.48, Renters Insurance $27.41, Internet $75.00, Storage $105.00, and Homeowner’s Insurance $34.50. A total of $ 259.39.

So I have $ 5,209.98 left over each month in disposable income.

Based, on what I have been reading on-line I am somewhat lucky. I am debt free, I owe nothing based what was listed above, house my parents are living in, my car, and all my college loans are paid off. I am maxing my Roth IRA and plan to start putting 20% of my pay into TSP, government 401(k) this year.

Currently food, laundry and room and board is costing me nothing. In fact, due to not paying enough attention I overpaid on my credit card so I have a credit of almost $1,200 on it.

So based on my peers I am not doing too bad. Goal this year is to get my retirement planning setup then focus on creating two funds for when I get back to the states, a furniture fund and a clothing fund. Both, areas where I need to focus some attention.

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